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OctaFX Review

Octa FX Review

 

 

Overall, OctaFX can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads on 100+ trading instruments. OctaFX is regulated by the Financial Services Authority – St. Vincent & the Grenadines. OctaFX has a trust score of 92 out of 100.

 

🔎 Broker🥇 OctaFX
📌 RegulationSVGFSA
🌎 Countries Not AcceptedUnited States
☪️ Islamic Account✅ Yes
🆓 Demo Account✅ Yes
📈 Institutional AccountsNo
📉 Managed AccountsNo
➕ Max Leverage1:500
💰 Min. Deposit$100 USD
🤝 Customer Service24/7
🚀 Open an Account👉 Click Here

 

Overall Rating

4.8/5

Rated #8 of
Recommended FX Brokers

💰Minimum Deposit

$5

🌐 Regulators

SVGFSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Very Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Official Website

 

OctaFX Review – 19 Key Point Quick Overview

 

  1. ☑️ OctaFX Overview
  2. ☑️ OctaFX Safety and Security
  3. ☑️ OctaFX Sign Up Bonus
  4. ☑️ OctaFX Minimum Deposit
  5. ☑️ OctaFX Account Types
  6. ☑️ How to open an OctaFX account – Step by Step Guide
  7. OctaFX Islamic Account
  8. OctaFX Demo Account
  9. OctaFX Trading Platforms
  10. OctaFX Fees, Spreads, and Commission
  11. OctaFX Deposit and Withdrawal
  12. OctaFX Affiliate Program
  13. OctaFX Best Countries by Traders
  14. OctaFX vs AvaTrade vs Forex.com – a Comparison
  15. OctaFX Customer Reviews
  16. OctaFX Current Popularity Trend
  17. OctaFX Pros and Cons
  18. Conclusion
  19. Frequently Asked Questions

 

OctaFX Top Bar

 

OctaFX Overview

 

OctaFX offers Forex ECN Trading, as well as CFD trading on Indices, Metals, and Cryptocurrencies across both the MT4 and MT5 trading platforms.  OctaFX offers a wide range of trading accounts and access to copy trading, bonus promotions, plus a wide range of research tools.

 

🔎 Broker🥇 OctaFX
📌 RegulationSVGFSA
🌎 Countries Not AcceptedUnited States
☪️ Islamic Account✅ Yes
🆓 Demo Account✅ Yes
📈 Institutional AccountsNo
📉 Managed AccountsNo
➕ Max Leverage1:500
💰 Min. Deposit$100 USD
🤝 Customer Service24/7
🚀 Open an Account👉 Click Here

 

OctaFX Landing Page New

 

OctaFX Safety and Security

 

OctaFX acts in full compliance with international legislation and regulation standards and guarantees fund security and negative balance protection to their clients.  OctaFX makes use of segregated accounts to protect their clients’ funds coupled with negative balance protection.

 

OctaFX Safety and Security

OctaFX Sign Up Bonus

 

OctaFX does offer a sign-up bonus of $25 USD.  A Trader has to deposit at least $50 USD to earn a deposit of $25 USD.  The OctaFX sign-up bonus is structured as a + 50% bonus program.

 

🔎 Broker🥇 OctaFX
🎉 Sign Up Bonus✅ Yes
📊 Structure+ 50%
💰 Min Deposit$50 USD
💻 AccountsMT4 / MT5
🚀 Open an Account👉 Click Here

 

OctaFX Sign Up Bonus 1 OctaFX Sign Up Bonus 2 OctaFX Sign Up Bonus 3 OctaFX Sign Up Bonus 4 OctaFX Sign Up Bonus 5

 

OctaFX Minimum Deposit

 

The minimum deposit amount required to register an OctaFX live trading account is $100 USD.  OctaFX provides two live trading accounts – the OctaFX MT5 and OctaFX MT4 accounts.

 

🔎 Broker🥇 OctaFX
💰 Min Deposit$100 USD
📌 VISA✅ Yes
📌 Bitcoin☑️ Yes
📌 Skrill✅ Yes
📌 MasterCard☑️ Yes
🚀 Open an Account👉 Click Here

 

OctaFX Minimum Deposit

 

OctaFX Account Types

 

OctaFX provides four different account types, the OctaFX MT4 Account, OctaFX MT5 Account, OctaFX Islamic, Swap-Free, and Risk-Free OctaFX Demo accounts respectively.  The minimum deposit amount required to open an OctaFX live account is $100 USD.

 

🔎 Account🥇 OctaFX MT5🥇 OctaFX MT4
✅ Recommended forSmart TradersHabitual Trader
💰 Min Deposit$100 USD$100 USD
🔁 Spreads from0.6 Pips0.6 Pips
💵 CommissionNoNo
➕ Max Leverage1:5001:500
📉 Min Volume0.01 Lot0.01 Lot
📈 Max Volume500 Lots200 Lots
📊 Hedging✅ Yes☑️ Yes
📌 Scalping☑️ Yes✅ Yes
🚀 Open an Account👉 Click Here👉 Click Here

 

OctaFX Account Comparison

How to open an OctaFX account – Step by Step Guide

 

1. Step 1: Press the Open Account Button.

The Open Account button is located at the top right of the OctaFX webpage.  A registration form can also be found via the signup page link.

 

OctaFX Account Step 1

 

2. Step 2: Complete Details.

After pressing the Open Account button, a registration form will appear.  Complete the required information and press the Open Account button located below the form.

 

OctaFX Account Step 2

 

3. Step 3: Email Account Verification.

After all the required details have been completed and submitted, a confirmation email will be sent to the applicant’s account.  After locating and opening the email – press Confirm.

 

Octafx Account Step 3

 

4. Step 4:  Complete Personal Details.

Once the applicant’s email has been confirmed, they will be directed to the OctaFX website to fill in their personal details.  The information provided by the applicant must be accurate, relevant, and up-to-date.

 

Octafx account step 4

 

5. Step 5: Select a Trading Platform.

The applicant must select between a real or demo account.

 

Octafx Account step 5

 

6. Step 6:  Complete Account Selection.

After choosing a platform, the applicant will press continue in order to finalize account creation.

 

Octafx Account Step 6

 

OctaFX Islamic Account

 

OctaFX offers Islamic swap-free trading on 2 trading account levels. OctaFX MT5 Swap-free and OctaFX MT4 Swap-free.  OctaFX offers Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.

 

🔎 Account🥇 OctaFX MT5🥇 OctaFX MT4
✅ Recommended forSmart TradersHabitual Trader
💰 Min Deposit$100 USD$100 USD
🔁 Spreads from0.6 Pips0.6 Pips
💵 CommissionNoNo
➕ Max Leverage1:5001:500
📉 Min Volume0.01 Lot0.01 Lot
📈 Max Volume500 Lots200 Lots
📊 Hedging✅ Yes☑️ Yes
📌 Scalping☑️ Yes✅ Yes
🚀 Open an Account👉 Click Here👉 Click Here

 

OctaFX Islamic Account

 

OctaFX Demo Account

 

OctaFX does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The OctaFX Demo account does not expire and is available without limit.

 

🔎 Broker🥇 OctaFX
📌 AccountDemo
☑️ AvailabilityUnlimited
💰 User CostFree
🚀 Open an Account👉 Click Here

 

OctaFX Demo Account Landing Page

 

OctaFX Trading Platforms

 

OctaFX makes the MetaTrader Suite available, MetaTrader 4 and MetaTrader 5.  MetaTrader 4 is best suited to beginner traders whereas MetaTrader offers a number of new features to more established investors.

 

🔎 Platform🥇 MT5🥈 MT4
⌛ Timeframes219
⚙️ Tech. Indicators3830
📊 Analytical Objects4431
✅ Economic Calendar☑️ Yes❌ No
🚀 Platform Speed64 bit32 bit
💻 Order ExecutionMarket ExecutionMarket Execution
📈 Pending Order Types64
📌 Hedging☑️ Yes☑️ Yes
☑️ Strategy TesterMulti ThreadedSingle Thread

 

OctaFX MT4 OctaFX MT5

 

OctaFX Fees, Spreads, and Commission

 

Trading with OctaFX will involve minimal fees, spreads from 0.6 pips, and commission-free trading depending on the account traders select. The required minimum deposit to open an OctaFX account is $100 USD.

 

🔎 Account🥇 OctaFX MT5🥇 OctaFX MT4
💰 Min Deposit$100 USD$100 USD
🔁 Spreads from0.6 Pips0.6 Pips
💵 CommissionNoNo
➕ Max Leverage1:5001:500
📉 Min Volume0.01 Lot0.01 Lot
📈 Max Volume500 Lots200 Lots
🚀 Open an Account👉 Click Here👉 Click Here

 

OctaFX Fees and Spreads

OctaFX Deposit and Withdrawal

 

OctaFX accepts all the most popular payment methods including VISA, Bitcoin, Neteller, and MasterCard.  OctaFX does not charge its clients any Deposit or Withdrawal fees. Furthermore, deposit and withdrawal fees applied by third parties will also be covered by OctaFX. However – some fees may be applied in certain cases.

OctaFX Withdrawals will be executed instantly or up to 30 minutes, depending on the method selected.

 

Octafx Deposit and Withdrawal

 

OctaFX Affiliate Program

 

OctaFX does make an affiliate program available in the form of Invite-a-Friend and IB options.  By sharing a referral link the trader will receive a commission per volume traded by their friends.

 

OctaFX Affiliate 2OctaFX Affiliate 1

 

OctaFX Best Countries by Traders

 

🌎 Country of Trade📌 % of Traders
🥇 India37.09
🥈 Pakistan30.21
🥉 Malaysia9.23
🏅 Indonesia6.12
📌 Philippines5.92

 

OctaFX Countries

 

OctaFX vs AvaTrade vs Forex.com – a Comparison

 

🔎 Broker🥇 OctaFX🥈 AvaTrade🥉 Forex.com
💰 Min Deposit$100 USD$100 USD$100 USD
🔁 Tradeable Symbols5212605500
🚩 Forex Pairs285591
💻 MT4✅ Yes☑️ Yes✅ Yes
🖥️ MT5☑️ Yes✅ Yes☑️ Yes
🚀 Open an Account👉 Click Here👉 Click Here👉 Click Here

 

OctaFX Customer Reviews

 

Very Reliable.

OctaFX is a very reliable service provider and offers great trading opportunities to its clients. – Alice

 

TrustPilot 5 Star

 

Great Provider.

I started as a novice but with the educational materials offered by OctaFX, I have managed to move on to live Forex trading.  Great Provider! – Vijay

 

TrustPilot 4 Star

 

Excellent Support.

OctaFX is always ready to assist and its customer service team goes above and beyond. – Rob

 

TrustPilot 3 Star

 

OctaFX Current Popularity Trend

 

According to Google Trends, here is an overview of how frequently the search term “OctaFX” is entered into Google’s search engine over a given period of time.

 

OctaFX Google Trend 1 OctaFX Google Trend 2

 

OctaFX Pros and Cons

 

✔️ Pros❌ Cons
octafx.eu domain is Regulated and authorized by CySECLimited assets
Unlimited demo accountLow Crypto coverage
Advanced technologyNo VPS
Forex and CFDs offeredNo education tools on Forex
More than 30 FX pairs to tradeTelephonic support not available 24/7
No commission deposits or withdrawal optionsNo clients from USA, Canada, Belgium, or others outside EU

 

 

Overall Rating

4.8/5

Rated #8 of
Recommended FX Brokers

💰Minimum Deposit

$5

🌐 Regulators

SVGFSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Very Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Official Website

 

 

 

Conclusion

 

Overall, OctaFX can be summarised as a trustworthy broker that has a trust score of 92 out of 100.

 

 

You might also like:  OctaFX Review

You might also like:  OctaFX Sign Up Bonus

You might also like:  OctaFX Minimum Deposit

You might also like:  OctaFX Account Types

You might also like:  OctaFX Demo Account

You might also like:  OctaFX Islamic Account

You might also like:  OctaFX Fees, Spreads, and Commission

 

 

Disclaimer

 

The trading of financial instruments involves a high level of risk which may not be suitable for all traders. This level of risk may result in the loss of amounts that exceed the initial deposit.

Traders need to ensure that they can practice risk management along with evaluating their risk exposure and willingness to be exposed to risk. Should they need to, traders can consult independent professionals for additional advice before investing.

 

 

Frequently Asked Questions

 

Can traders from South Africa open an OctaFX trading account?

Yes, South African traders can open an OctaFX live trading or risk-free demo account without restriction.

 

Does OctaFX offer leverage?

Yes, OctaFX offers maximum leverage of up to 1:500.

 

Does OctaFX have ZAR accounts?

No, OctaFX does not offer ZAR accounts to South African traders.

 

How many symbols can I trade with an OctaFX account?

OctaFX makes 52 tradable symbols available.

 

Does OctaFX have copy trading?

Yes, OctaFX Copytrading offers an opportunity to automatically copy leading traders.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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